SHANGHAI, July 15 (Xinhua) -- A company focused on raising funds for green development projects nationwide was put into operation in Shanghai on Wednesday, with a total registered capital of 88.5 billion yuan (about 12.66 billion U.S. dollars).
The National Green Development Fund Co., Ltd. was jointly launched by the Ministry of Finance, the Ministry of Ecology and Environment and Shanghai Municipality.
The funds raised by the company will be directed to investment fields such as pollution control, ecological restoration, afforestation of national land, conservation of energy and resources, green transportation and clean energy.
Chen Yin, head of the company's preparatory group, said the group has prepared around 80 projects of various types related to green development.
Of the initially raised capital, 28.6 billion yuan was contributed by the Ministry of Finance and 11 provinces and cities along the Yangtze River, while 57.5 billion yuan came from financial institutions and 2.4 billion yuan from state-owned and private enterprises.
The establishment of the fund, which aims to focus on key areas of green development along the Yangtze River Economic Belt, will inject new impetus into the country's ecological progress. Enditem
